360
360
Apr 27, 2012
04/12
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good to have you with us. looks like the markets are having a tough time believing the latest purchase will do anything to help the japanese economy. >> yeah, this was quite frustrating. the boj has done a head fake with malice forethought. i was away from my desk when the news came out and the headline says that it's 10 trel i don't know yen of bond purchasing and your first thought is we were expecting 5 to 10, we got 10, that's good. and then you pull down that press release and you go that's interesting, they're sterilizing half of this. so the total is not ten, it's five. and then you're reading through the press release and you're going they're intentionally doing this, they didn't really believe in what they were being asked to do in the first place. they're under intense political pressure. so that pretending to do more than they really are. so it looks like a lot. it's actually rather less than it looks. >> so under a lot of political pressure is what you're saying the boj is under. what will it take
good to have you with us. looks like the markets are having a tough time believing the latest purchase will do anything to help the japanese economy. >> yeah, this was quite frustrating. the boj has done a head fake with malice forethought. i was away from my desk when the news came out and the headline says that it's 10 trel i don't know yen of bond purchasing and your first thought is we were expecting 5 to 10, we got 10, that's good. and then you pull down that press release and you go...
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Apr 20, 2012
04/12
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but what they're using is profit taking or using dips to actually buy on to corrections. there's a fear of missing out. >> i suppose for us to really get a proper recovery, we need companies to start spending that cash to invest in the recovery. what will it take to drive things forward? >> on the u.s. side, they're waiting for clarity on policy. and that will determine their cost base. and then they can understand how much budget they have to be able to spend. therefore all eyes will be on the election at the end of will this year. >> sticking with concerning, we've seen some good results out of the u.s., but are we seeing the expectations low on the bar is set low and then the mums come in high in to the up side and make investors feel good about what they're seeing or are we seeing real accurate numbers and getting a between read? >> expectations are driving the markets at the moment. what happens is a lot of investors are positioned pessimistically and if anything comes out that actually is ahead of expectations, they have this fear of missing out and actually buying
but what they're using is profit taking or using dips to actually buy on to corrections. there's a fear of missing out. >> i suppose for us to really get a proper recovery, we need companies to start spending that cash to invest in the recovery. what will it take to drive things forward? >> on the u.s. side, they're waiting for clarity on policy. and that will determine their cost base. and then they can understand how much budget they have to be able to spend. therefore all eyes...
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May 7, 2012
05/12
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that's it for us. i'm jackie deangelis with louisa bojesen. >>> this weekend warren buffett faced tens of thousands of share holders. today he faces "squawk box." this is a special presentation of "squawk box" live from the hollywood diner just outside omaha. >>> good morning. welcome to "squawk box" here on cnbc. i'm becky quick along with joe kernen and andrew ross sorkin. and today we have a very special squawk news maker with us, warren buffett. he is berkshire hathaway chairman and ceo and he'll be joining us fors next three hours. he is ready to offer his take on the u.s. ar
that's it for us. i'm jackie deangelis with louisa bojesen. >>> this weekend warren buffett faced tens of thousands of share holders. today he faces "squawk box." this is a special presentation of "squawk box" live from the hollywood diner just outside omaha. >>> good morning. welcome to "squawk box" here on cnbc. i'm becky quick along with joe kernen and andrew ross sorkin. and today we have a very special squawk news maker with us, warren...
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297
Jul 10, 2012
07/12
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diamond told us that the fsa was specifically pleased with us. that doesn't sound very pleased. >> again, i think -- i assume what he's referring to is this came from the top. comments specifically made by mr. bailey at that board meeting. >> that's in relation to the precise question i just put to you, put to mr. diamond by our chairman. >> i'm sorry. >> precisely the question i put to you is a question our chairman put to mr. diamond. >> which was? >> mr. diamond -- >> we're going get more from hearing with marcus agius. likely of course take a couple of hours and if it's anything like the ones we previously heard. i want to get reaction. your thoughts? >> this morning a bit disappointing. yesterday to my surprise and quite intelligent and coordinated questioning coming from the panel. today we're revisiting issues of the past, we're not talk about libor. i can't remember the last time i remember hearing libor mentioned. we're the hearing old vendetta about the culture at barclays being played out whereas to remind ourselves the libor specific
diamond told us that the fsa was specifically pleased with us. that doesn't sound very pleased. >> again, i think -- i assume what he's referring to is this came from the top. comments specifically made by mr. bailey at that board meeting. >> that's in relation to the precise question i just put to you, put to mr. diamond by our chairman. >> i'm sorry. >> precisely the question i put to you is a question our chairman put to mr. diamond. >> which was? >> mr....
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May 16, 2012
05/12
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that's the power of all of us. that's the power of all of us. that's the membership effect of american express. >>> okay. so we had the meeting last night between angela merkel and francois. they agree to disagree on some matters but angela merkel is absolutely determined to keep greece in the eurozone. silvia has been speaking to her this morning. take a listen. >> translator: i have the determination to keep greece in the eurozone. i think it will be good for greece. it will be food for all of us. we have to say then we also have to rely on each other. that is to say the commitments we have entered on one side and on the other hand, the fulfillments of the commitments of the referendum, they're on two sides of the same coin and they belong together and think needs to be said very clearly but also coupled with the political determination and the will to keep greece within the eurozone. we want greece to stay in the eurozone. if greece believes that there are certain stimulus to be pursued for growth in the eurozone which we could pursue in the
that's the power of all of us. that's the power of all of us. that's the membership effect of american express. >>> okay. so we had the meeting last night between angela merkel and francois. they agree to disagree on some matters but angela merkel is absolutely determined to keep greece in the eurozone. silvia has been speaking to her this morning. take a listen. >> translator: i have the determination to keep greece in the eurozone. i think it will be good for greece. it will be...
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May 23, 2012
05/12
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with us. first to you, this downgrade to 8.2% from 8.4% for china. a big deal? or a reason to worry? >> well, first, i think a small downgrade like that is worthy of a prize for accuracy. the bigger picture is that chinese growth is clearly going to be slower this year than it was last year. the real question is whether or not it's going to pick up in 2013. we don't think it will. our forecast for this year is 8.5%. but with the further slowdown to 7.5% next year. and that could be quite worrying for the global economy at a time where the euro zone is likely to be in a deep recession. and the u.s. economy is likely to be fragile. >> at the same time, people were worried that china was growing too quickly, overheating. these concerns predominating within the last couple of months. is there anything that's good news for the chinese economy? >> well, not really. and in fact, the cut in the world bank forecast is probably not sufficient. we have called for an 8% growth forecast this year since we
with us. first to you, this downgrade to 8.2% from 8.4% for china. a big deal? or a reason to worry? >> well, first, i think a small downgrade like that is worthy of a prize for accuracy. the bigger picture is that chinese growth is clearly going to be slower this year than it was last year. the real question is whether or not it's going to pick up in 2013. we don't think it will. our forecast for this year is 8.5%. but with the further slowdown to 7.5% next year. and that could be quite...
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Nov 28, 2012
11/12
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thanks for joining us. here's a quick look at what else you've been hearing from some of the experts on our program this morning. >> looking somewhat rich. also cautious on finland where we think there could be some problem next year also regarding rating. >> the sterling i think represents the best and i would avoid the euro like the plague. >> depend on big financial leverage to make money. and those businesses were the customers that were struggling. they have been leveraged on the left-hand side. so that is a fundamentally tricky business. >> now the eu zone to approve the restructuring plans of spanish banks and he says the plan will cost a total of $37 billion euros. he said nationalized banks will reduce their number of branches by up to 50%. this follows a deal for a token price of one euro. he said that plan is cheaper than it would have been to liquidate the bank altogether. fitch has slashed argentina's credit rating by five notches, citing the risk of probable default. this after a u.s. court or
thanks for joining us. here's a quick look at what else you've been hearing from some of the experts on our program this morning. >> looking somewhat rich. also cautious on finland where we think there could be some problem next year also regarding rating. >> the sterling i think represents the best and i would avoid the euro like the plague. >> depend on big financial leverage to make money. and those businesses were the customers that were struggling. they have been...
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220
May 4, 2012
05/12
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joining us is the ceo. great to have you with us, jeremy. so it was a good first quarter report for the company. what were the strongest pieces and the strongest take away a oig for investors coming out of this earnings report? >> we drew our customer base almost 50% year over year and that was from almost every sector of society. it was financial institutions, media institutions, government institutions. and what i think it's showing and this is a core part of our belief is that virtually every professional institution on the planet is going to begin to use more and more video as how they market and a educate and interact with their users. good and also we've seen a run up in the share price, seeing a nice clip of an increase this. some wondering if that is just fiz at this point. your thoughts on that. >> i can't comment specifically on the stock price. last year we grew 46% we're a company that i think is participating in some fundamental secular market trends like online video, cloud computing, mobile kept, social media and i think those
joining us is the ceo. great to have you with us, jeremy. so it was a good first quarter report for the company. what were the strongest pieces and the strongest take away a oig for investors coming out of this earnings report? >> we drew our customer base almost 50% year over year and that was from almost every sector of society. it was financial institutions, media institutions, government institutions. and what i think it's showing and this is a core part of our belief is that...
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Nov 14, 2012
11/12
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eunice is with us in beijing. eunice, as we look from where we are at the moment, do we have any feeling on how many members there will be in that standing committee? the implications of that and the likely makeup? >> so far, we know that it's going to be somewhere between seven and nine. that's the number that people have been throwing out there. there's been a lot of expectation that the number on the standing committee, which is currently at nine, will be trimmed down to seven, which could potentially mean that policy will be easier to push through. some of the other things that people are talking about here is just how incredible it is that this is now the end of an era for the current president as well as the premier, really stepping aside as party chiefs for the next generation of leaders. now, the delegates today had come together and they approved the work report, which is endorsed by the president. >> translator: the most important policies and arrangements and greatest achievements will surely play a cri
eunice is with us in beijing. eunice, as we look from where we are at the moment, do we have any feeling on how many members there will be in that standing committee? the implications of that and the likely makeup? >> so far, we know that it's going to be somewhere between seven and nine. that's the number that people have been throwing out there. there's been a lot of expectation that the number on the standing committee, which is currently at nine, will be trimmed down to seven, which...
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Aug 27, 2012
08/12
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mark newman joins us now. give us your initial thoughts then on what this, what the result of this piece of litigation means in the immediate term for samsung. we've seen the shares falling hard. does that mean we should be pessimistic about the outlook for this company? >> well, clearly the outcome of the san jose courts was a clear victory, unambiguous victory for apple. they won over a billion dollar settlement from samsung. more importantly, their september 20th hearing looming over samsung now which is when the judge is going decide which products are going to have a ban on them. so the injunction hearing will be september 20th. and so based on that, that's a big shock factor from investors which forced the shares to tumble somewhat expectedly, but, you know, if you look at what the impact should be, you know, we look at the impact and we size potential scenarios and the majority of it shows it will be single digit impact. 6% impact on eps for 2013. so based on that the stock tumble is somewhat overdone a
mark newman joins us now. give us your initial thoughts then on what this, what the result of this piece of litigation means in the immediate term for samsung. we've seen the shares falling hard. does that mean we should be pessimistic about the outlook for this company? >> well, clearly the outcome of the san jose courts was a clear victory, unambiguous victory for apple. they won over a billion dollar settlement from samsung. more importantly, their september 20th hearing looming over...
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Jun 28, 2012
06/12
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leapt us know. shoot us an e-mail as worldwide@cnbc.com or tweet us. reach us directly at kelly evans. >>> we'll did you say what's up for the sector when we come back. >>> welcome back this morning. the world's second largest ipo this year after facebook made a strong debut on the yes malaysian stock market today. shares of palm oil company fell to global surged as much as 20% in early trade before settling a bit lower. the company raised 3.1 billion from the listing. it was priced to sell and will the momentum last? we look at feld a's pros be pebts in this report. >> reporter: the world's third largest palm felda is looking at emerging markets to drive their growth where palm oil is a staple cooking ingredient. >> the economy is reflected in ipos like felda which are distributing incomes across a whole wide area of agricultural communities. >> reporter: the outlook for felda is compelling. market outlook is reverse. formula one is to be put on the back burner. some market experts are optimistic citing the over subscription and heavyweight corner sto
leapt us know. shoot us an e-mail as worldwide@cnbc.com or tweet us. reach us directly at kelly evans. >>> we'll did you say what's up for the sector when we come back. >>> welcome back this morning. the world's second largest ipo this year after facebook made a strong debut on the yes malaysian stock market today. shares of palm oil company fell to global surged as much as 20% in early trade before settling a bit lower. the company raised 3.1 billion from the listing. it was...
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Mar 27, 2012
03/12
by
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if so, call us now. you'll learn how the sleep number bed helps relieve back pain by allowing you to adjust the firmness and support to conform to your body for a more proper spinal alignment. just look at this research... 93% of participants experienced back-pain relief. plus it's a great value because it costs about the same an innerspring yet lasts twice as long. so if you want to sleep better or find relief for your bad back, call now. call the number on your screen for your free information kit with dvd brochure and price list. call now and we'll include a free $50 savings card. call now for your free information and this free $50 savings card. call now! >>> a communique >>> a communique pledging a safer world for all, but short on many key specifics. the details live from seoul. >> as you mentioned, among what the 50 plus delegates he conference are pledging, joint call to secure all material within four years and a strong international corporation to fight nuclear terrorism. they say they want to
if so, call us now. you'll learn how the sleep number bed helps relieve back pain by allowing you to adjust the firmness and support to conform to your body for a more proper spinal alignment. just look at this research... 93% of participants experienced back-pain relief. plus it's a great value because it costs about the same an innerspring yet lasts twice as long. so if you want to sleep better or find relief for your bad back, call now. call the number on your screen for your free...
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Aug 24, 2012
08/12
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thank so you much for joining us. miranda xafa joining us from athens. australia central bank governor says the country's resources boom is not over yet. the rba expects mining investments to peak of 9% of gdp over the next two years before fading. signalled interest rates will stand pat unless there's a big change in australia's economic outlook. come october, the japanese government could run out of government. the nation's with the world's biggest debt burden is inches to its own version of fiscal cliff. legislation is languaishing. >>> and the u.s. may be eyeing some kind of a return to a gold standard. the "financial times" suggested republican party will call for a creation of a commission to explore restoring the link of gold between the dollar. congresswoman marsha blackburn who co-chairs the platform committee said this is not an indication to replicate libertarian ron paul. what do you think? a gold standard would force an end to wasteful spending otherwise the u.s. will lose its reserve currency status. we would like to know what do you think
thank so you much for joining us. miranda xafa joining us from athens. australia central bank governor says the country's resources boom is not over yet. the rba expects mining investments to peak of 9% of gdp over the next two years before fading. signalled interest rates will stand pat unless there's a big change in australia's economic outlook. come october, the japanese government could run out of government. the nation's with the world's biggest debt burden is inches to its own version of...
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Sep 24, 2012
09/12
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CNBC
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for us. because our view is there's in the one uber cloud in the sky and everybody will access. there will be clouds for purpose. there will be clouds inside of our own customer's data centers, but we'll have multiple service providers and sometimes they'll be delivered in a particular geography, there will be for vertical market, there might be regulatory or compliance or security reasons. so we believe that there are multiple clouds that need to be managed and orchestrated together. so us as an enabler and provider, it gives us great growth outlook. >> do you therefore as an enabler have to divide up your business degraphically, as well, to reflect the differences that your clients experience? >> we certainly operate in 60 countries around the world today. over 100 countries around the world with and through partners. so we do have local understanding, but we still deliver on a global scale. we develop our technology foundationally and then taylor to each individual markets around the world
for us. because our view is there's in the one uber cloud in the sky and everybody will access. there will be clouds for purpose. there will be clouds inside of our own customer's data centers, but we'll have multiple service providers and sometimes they'll be delivered in a particular geography, there will be for vertical market, there might be regulatory or compliance or security reasons. so we believe that there are multiple clouds that need to be managed and orchestrated together. so us as...
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Jun 27, 2012
06/12
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CNBC
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e-mail us at worldwide @cnbc.com or tweet us @cnbcwex. >> happy memorandums of atari games when i was at school. >>> just having a flash back there. we'll take a short break. after that we'll hear from the cfo of standard chattered as they struggle with weak local currencies. [ male announcer ] this is the at&t network. a living, breathing intelligence helping business, do more business. in here, opportunities are created and protected. gonna need more wool! demand is instantly recognized and securely acted on across the company. around the world. turning a new trend, into a global phenomenon. it's the at&t network -- securing a world of new opportunities. ♪ >>> >>> welcome back to the program. we've been following the bankruptcy this morning, potential filing of bankruptcy by stockton, california. of course, that happening in the u.s. but europe continuing to drive much of the rest of the news this morning. gina sanchez from roubini global economics is still with us. as we look beyond europe to the rest of the world, and some of the growth problems we're having, i wonder if we're o
e-mail us at worldwide @cnbc.com or tweet us @cnbcwex. >> happy memorandums of atari games when i was at school. >>> just having a flash back there. we'll take a short break. after that we'll hear from the cfo of standard chattered as they struggle with weak local currencies. [ male announcer ] this is the at&t network. a living, breathing intelligence helping business, do more business. in here, opportunities are created and protected. gonna need more wool! demand is...
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187
Jun 7, 2012
06/12
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eye 187
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glad to have you back with us. ross is still out on holiday, but he'll be back monday. >> he's sneaking around kind of everywhere. so i think it will be a super interesting day today. >> not a big auction, but it will be a telling one. and then we have a bank of england decision. >> loads to cover because a lot coming up. we'll continue our coverage of the spring conference in copenhagen. it's become an liability on president obama. more on that in 20 minutes. >> and we'll get the latest reading of uk services pmi. more grim evidence he ahead of the boe rate decision. >> and the luxury sector with a sales trade out of hong kong. find out what companies are benefitting from asian sales. one of the stocks he's recommending comes with a lifetime warranty. >> and is the debt crisis making bad behavior worst? an author has fascinating observe observations about greece. >> and we'll get investment strategy from big joe clark. he says china is the problem child in a no one wants to pay attention to. all of that and plenty
glad to have you back with us. ross is still out on holiday, but he'll be back monday. >> he's sneaking around kind of everywhere. so i think it will be a super interesting day today. >> not a big auction, but it will be a telling one. and then we have a bank of england decision. >> loads to cover because a lot coming up. we'll continue our coverage of the spring conference in copenhagen. it's become an liability on president obama. more on that in 20 minutes. >> and...
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Mar 19, 2012
03/12
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burns of course still with us. we heard him talking about some of the crucial compromises i guess that governments and markets have to make right now. he particularly pointed to regulator reform on the one hand versus provision of adequate credit for recovery on the other. do you think we're getting that right? >> i think we're playing a little bit with fire and it's definitely on the brink. if you look at the latest figures on the ecb, there's just 25% of institutions had toughened their lending standards, which hardly speaks to an efficient transmission of all this money that the central banks have provided. >> so do you believe that the central banks need to push this money out in to the real economy right now to get this recovery going or are we just in a transition mode where it's okay for banks to kind of keep this until they are more assured? >> i think the ecb, the next accept if you like down the road, which the bundesbank would speak out strongly against would be purchase of let's say corporate bonds or o
burns of course still with us. we heard him talking about some of the crucial compromises i guess that governments and markets have to make right now. he particularly pointed to regulator reform on the one hand versus provision of adequate credit for recovery on the other. do you think we're getting that right? >> i think we're playing a little bit with fire and it's definitely on the brink. if you look at the latest figures on the ecb, there's just 25% of institutions had toughened their...
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189
Feb 29, 2012
02/12
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thanks for joining us. alberto gallo joining us. robert sticks around. >>> a posted record earnings for the ninth year running. profit up 11% to just under $6.8 million. they were in line with the estimates a estimates. carolyn's got more in zur rick. >> we knew that hole sum was going to. mainly on its south ak friday can investments. now, as you say, the net loss that holeson did report for the fourth quarter, that was slightly faller than expected. revenues were also stronger than expected at 5.3 billion swiss francs. it was surprisingly strong because the weather conditions in the fourth quarter were more favorable. in terms of the outlook, very optimist optimistic. a rise in building materials in asia, slightly more in the u.s. and stable in europe. ross. >> japan's manufacturing outlook hat jumped. plus we have the latest credit data out of the uk. >>> this is "worldwide exchange." the headlines from around the globe. the ecb opens the tap once again. it's offering the eurozone bank's another unlimited round
thanks for joining us. alberto gallo joining us. robert sticks around. >>> a posted record earnings for the ninth year running. profit up 11% to just under $6.8 million. they were in line with the estimates a estimates. carolyn's got more in zur rick. >> we knew that hole sum was going to. mainly on its south ak friday can investments. now, as you say, the net loss that holeson did report for the fourth quarter, that was slightly faller than expected. revenues were also stronger...
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Oct 1, 2012
10/12
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thanks for joining us. you're also co-author of a new book being published today called the $10 trillion prize, captivating for newly affluent in china and india. so a couple things to talk about. first of all, what is the comparison between british and american consumers and chinese ones? >> chinese consumers are optimistic, excited about their future. 80% of chinese consumers say their children will live a better life. only 20% of american consumers say the same thing. american consumers are under financial stress. 51% of american consumers say they have a level of financial instability in their life. about a quarter of them are worried that they'll lose their jobs. and the opposite is true in china and india. both of which have economies that although in a slightly slower time frame now have an incredible eight years ahead of them as they rush to 2020. >> so scared, stressed and anxious. what is the impact of that on their spending levels? >> well, the most interesting thing is that they're not saving en
thanks for joining us. you're also co-author of a new book being published today called the $10 trillion prize, captivating for newly affluent in china and india. so a couple things to talk about. first of all, what is the comparison between british and american consumers and chinese ones? >> chinese consumers are optimistic, excited about their future. 80% of chinese consumers say their children will live a better life. only 20% of american consumers say the same thing. american...
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Sep 20, 2012
09/12
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mcneil is still with us. and i have to ask about where you potentially sort of look at markets and see opportunity right now. >> well, i think one of the big places will be in hard assets. particularly gold. i'd focus in on gold. ultimately we think that can probably trade between 3,000 and 5,000 an ounce going forward. certainly not within the next several months, but long term basis, we're in a well defined uptrend and we certainly have more to run before that runs it course. so that certainly would be very, very strong area of interest. >> and did i see you have strong feelings on the kiwi? >> oh, yes. the aussie cross we think has a pretty down side potential, as well. we've seen decent weakness, but bigger picture if you take a step back, we've been in this range and we think we'll see continued medium term longer term weakness ultimately for a move down to we think about 115 area before all is said and done. >> can be quite telling for prospects across that region of the world, as well. but still think
mcneil is still with us. and i have to ask about where you potentially sort of look at markets and see opportunity right now. >> well, i think one of the big places will be in hard assets. particularly gold. i'd focus in on gold. ultimately we think that can probably trade between 3,000 and 5,000 an ounce going forward. certainly not within the next several months, but long term basis, we're in a well defined uptrend and we certainly have more to run before that runs it course. so that...
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Jun 14, 2012
06/12
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join is us more is david rosenberg. thanks so much indeed for joning us. do you share this view, european leaders will do whatever it takes? because whatever it takes seems to me to be -- angela merkel said it this morning, we need a political union in europe. >> that's 100% correct. there's no history of a monetary union surviving without ultimate political and fiscal union. and the problem in the eurozone is that you want to go that route. you have to pass legislation through all these individual member countries. it's not as simple as the united states where you can just snap your fengers and in two days get a tarp program through congress. it's very complicated. the problem in europe is that time is running out. and to embark on that path would probably take years, even the stability fund is still not in place. only three countries have vatfied it so far. it's much more complicated and i'm very skeptical that the policymakers and europe will be able to get their act together on time. the markets are selling them that the sand is running quickly through
join is us more is david rosenberg. thanks so much indeed for joning us. do you share this view, european leaders will do whatever it takes? because whatever it takes seems to me to be -- angela merkel said it this morning, we need a political union in europe. >> that's 100% correct. there's no history of a monetary union surviving without ultimate political and fiscal union. and the problem in the eurozone is that you want to go that route. you have to pass legislation through all these...
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Apr 17, 2012
04/12
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is still with us. how is it the inflationary environment look to you based on those mums and what we've seen in past months? >> inflation has come down from from levels seen a year ago and that is more or less in line of what the bank of england wanted to see. but we have as well to consider that there are first signs that inflation is going to create a longer term problem in the uk. we have seen asking prices for real he is say the is reaching pre-crisis levels. and that came on the back of only a slight improvement in the labor markets. so only so much liquidity flirting around which is looking for an asset. so asset price inflation has come back on the agenda here and i think that once base effects have run out you will have to live with higher inflation down the road. we have a slight inflation against the eurozone and i think the -- >> just a few more of these figures, as well, for completeness figures for the month of march from the office of national statistics while we're at it. the march rpi u
is still with us. how is it the inflationary environment look to you based on those mums and what we've seen in past months? >> inflation has come down from from levels seen a year ago and that is more or less in line of what the bank of england wanted to see. but we have as well to consider that there are first signs that inflation is going to create a longer term problem in the uk. we have seen asking prices for real he is say the is reaching pre-crisis levels. and that came on the back...
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Jun 11, 2012
06/12
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you can i'm us or tweet us at cnbc weks or reach us. we'll be right back. [ male announcer ] this is the at&t network... a living breathing intelligence bringing people together to bring new ideas to life. look. it's so simple. [ male announcer ] in here, the right minds from inside and outside the company come together to work on an idea. adding to it from the road, improving it in the cloud all in real time. good idea. ♪ it's the at&t network -- providing new ways to work together, so business works better. ♪ they i're they're keeping to it. emi emily chan caught up with them and she cement us this high light report. >> reporter: we're here in beijing as they hold their 16th annual summit. of course, they have maintained their contact. keeps it unchanged at $3 billion. the mark has helped drive improvements. having said that, this is the second consecutive year of declining profiting. they had a record in 2010. net margins just under 3%. the following year in 2011 it fell in half and it's expected to fall by more than 50% this yea
you can i'm us or tweet us at cnbc weks or reach us. we'll be right back. [ male announcer ] this is the at&t network... a living breathing intelligence bringing people together to bring new ideas to life. look. it's so simple. [ male announcer ] in here, the right minds from inside and outside the company come together to work on an idea. adding to it from the road, improving it in the cloud all in real time. good idea. ♪ it's the at&t network -- providing new ways to work together,...
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Jun 4, 2012
06/12
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let us know what you think. @cnbcwex, @kelly_evans, or at louisa bojesen. >> always lovely to hear from you out there. but after the credit, we'll be hearing from a credit insurer about the decision to halt all new cover on exports to greece. >>> halted credit to yees oig among concerns the country may be pushed out of the eurozone. earl why he we spoke to grant williams, risk underwriting director and asked him what prompted the decision. >> if you cross your mind back, the greece economy had its first bailout in may 2010. a lot of things we do, we're constantly monitoring all markets. we noticed in autumn of 2011 was an increase in payment notifications, slow downs, incidents to our customers in it to the greek economy and that essentially felt take we needed to advise thats of improperly dealing with this market and so it's not an overdramatic stop as reported. it's been and ongoing review. >> are you seeing the same deterioration in standards in spain as you saw in greece last fall? >> there are clearly a nu
let us know what you think. @cnbcwex, @kelly_evans, or at louisa bojesen. >> always lovely to hear from you out there. but after the credit, we'll be hearing from a credit insurer about the decision to halt all new cover on exports to greece. >>> halted credit to yees oig among concerns the country may be pushed out of the eurozone. earl why he we spoke to grant williams, risk underwriting director and asked him what prompted the decision. >> if you cross your mind back,...
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May 18, 2012
05/12
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joining us is the ceo. james, thanks very much for joining us. we've had some disappointing data out of the u.s. the global economy or the data everywhere is rather disappointing at the moment. so just give us an case your view of the environment at the moment in which you're having to run the business and turn it around. >> it is a tricky environment. and we certainly would be happy to see things stabilize, the economy improve worldwide. some markets are stronger than others certainly here in the u.s. it seems things are stabilizing. we'd like to see the unemployment rate come down, but it's a hard thing to turn around a business generally and this makes it a little bit more challenging. but not something that is overly difficult. >> james, at the same time, you're coming at a point in which the restaurant industry in the u.s. at least is no longer really adding units. so if you're not growing top line in that way, what a are you doing to make each store more profitable? >> i think it's important to look at the restaurant business in terms of se
joining us is the ceo. james, thanks very much for joining us. we've had some disappointing data out of the u.s. the global economy or the data everywhere is rather disappointing at the moment. so just give us an case your view of the environment at the moment in which you're having to run the business and turn it around. >> it is a tricky environment. and we certainly would be happy to see things stabilize, the economy improve worldwide. some markets are stronger than others certainly...
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Jun 19, 2012
06/12
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use it. find us on twitter. julie boorstin -- >> or kelly evans. >> charlie doesn't have twitter but we're trying to get him on it. >> i tried it. >> do you follow people? >> i follow people. >> you don't tweet? >> i get spammed so there was a lot of stuff coming out, getting free i.t. services for my account. >> i'm shocked by how much you're here on twitter before you are here on anywhere else. >> modern day rumor mill. >> a quick look on what's the agenda. in asia exports in japan will come out with all-important trade figures for may. that's before 2:00 p.m. central european time and also be watching out for the impact of a rising yen. thailand reports may trade mayors while india, malaysia release may consumer price index. >> gold continues to rise as investors, further stimulus from the federal reserve. we'll be talking about gold. what's your opinion. will you be investing commodities? let us know. federal reser >>> hi. welcome back, everybody. still watching "worldwide exchange". spain has sold 3.04 bill
use it. find us on twitter. julie boorstin -- >> or kelly evans. >> charlie doesn't have twitter but we're trying to get him on it. >> i tried it. >> do you follow people? >> i follow people. >> you don't tweet? >> i get spammed so there was a lot of stuff coming out, getting free i.t. services for my account. >> i'm shocked by how much you're here on twitter before you are here on anywhere else. >> modern day rumor mill. >> a quick...
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Oct 4, 2012
10/12
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does it give us a false sense of security? >> it comes back to draghi's comments and anticipating help from the bonds. you have to look at the results, significant drop, 200 basis points tighter in that two year compared to the auction done just in july. worth mentioning the three rear slightly higher than the last auction, but you can't be fooled by that because that was done in september 20th actually. so it's already got the benefits of the potential bond buying plan. and what this has got us, now around 88% done it for their financing this year according to their initial estimates. the question is whether they have to increase that this year. but of course possibility of the bond purchases supporting the markets right now. moody's is also hanging over the market, the potential downgrade. and we could get that at any time now. the other thing of course that's going on in spain, we have some details on the bad bank, but i have to admit, there's plenty of head scratching going on here in spain. we need more details. economy m
does it give us a false sense of security? >> it comes back to draghi's comments and anticipating help from the bonds. you have to look at the results, significant drop, 200 basis points tighter in that two year compared to the auction done just in july. worth mentioning the three rear slightly higher than the last auction, but you can't be fooled by that because that was done in september 20th actually. so it's already got the benefits of the potential bond buying plan. and what this has...
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Jun 18, 2012
06/12
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julian will stay with us. coming up next we're live in brussels with eurozone finance ministers welcomed the result of the greek elections saying they are confident the country will stick to its bailout terms. taking a look at market reaction this morning, investors may not agree. om#a#a#a#a#a'9#a+=#a#a#a#a#a +g#a >>> here are the headlines from around the globe. the rally lose s steam. >> new democracy leader prepares to meet the greek president as he sets about forming a coalition government. >> g-20 leaders welcome the greek election outcome. they are arriving in mexico. obama administration say expect no resolution. >> no relief rally in india. rbi keeps rates on hold. >>> well it felt pretty good this morning for about an hour. and then it started to evaporate. ftse 100 down. dax up. camelback flat. down 1.8% on the ibex. yields are doing it. we've moved firmly straight back on to spain. >> we have. almost think nothing happened over the weekend and to some degree that's the message from markets. we're lo
julian will stay with us. coming up next we're live in brussels with eurozone finance ministers welcomed the result of the greek elections saying they are confident the country will stick to its bailout terms. taking a look at market reaction this morning, investors may not agree. om#a#a#a#a#a'9#a+=#a#a#a#a#a +g#a >>> here are the headlines from around the globe. the rally lose s steam. >> new democracy leader prepares to meet the greek president as he sets about forming a...
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Feb 9, 2012
02/12
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jules joins us to remind us what has or more importantly hasn't happened in athens so far this week. jules? >> reporter: yeah, you're right. the latest sticking point, though the only sticking point we're hearing now is the pension cuts. we're talking around 300 million euros worth of pension cuts that we're looking to see whether they can be offset to other things, wage cuts, plenty of other options on the table but it's just whether we can come to some conclusion. we're hearing the local media here saying they're going to given the coalition 15 days to work around and try and find a solution. we've also seen flashes, though, from a german government o official saying that there isn't going to be a decision on greece tonight, if that euro group meeting goes ahead. of course we don't even know if they're going to have something to discuss. we're hoping or papademos said there will be discussions between the troika and venizelos and himself in order to come to some kind of conclusion. a source told me last night, in fact, that if whatever doesn't get agreed to today on these reform me
jules joins us to remind us what has or more importantly hasn't happened in athens so far this week. jules? >> reporter: yeah, you're right. the latest sticking point, though the only sticking point we're hearing now is the pension cuts. we're talking around 300 million euros worth of pension cuts that we're looking to see whether they can be offset to other things, wage cuts, plenty of other options on the table but it's just whether we can come to some conclusion. we're hearing the...
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Mar 22, 2012
03/12
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they'll stay with us. and still to come, another day, another deal in the tech start up space as zynga snaps up a rival games maker. but how did m&a hold up? find out next. carfirmation. only hertz gives you a carfirmation. hey, this is challenger. i'll be waiting for you in stall 5. it confirms your reservation and the location your car is in, the moment you land. it's just another way you'll be traveling at the speed of hertz. introducing gold choice. the freedom you can only get from hertz to keep the car you reserved or simply choose another. and it's free. ya know, for whoever you are that day. it's just another way you'll be traveling at the speed of hertz. >>> >>> welcome back. companies are still putting their money to work with several targeting aovers. watson pharmaceuticals is reportedly close to buying swiss drug maker to $7 billion, this would be watson's biggest acquisition since it bought aero group for $1.7 million. meantime zynga adds more games buying omg pop. it makes the game draw somet
they'll stay with us. and still to come, another day, another deal in the tech start up space as zynga snaps up a rival games maker. but how did m&a hold up? find out next. carfirmation. only hertz gives you a carfirmation. hey, this is challenger. i'll be waiting for you in stall 5. it confirms your reservation and the location your car is in, the moment you land. it's just another way you'll be traveling at the speed of hertz. introducing gold choice. the freedom you can only get from...
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Mar 16, 2012
03/12
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joining us now, we have vishnu. he is a market economist. good to have you with us. in summary, what's your outlook on the indian budget? >> i think the indian budget was probably playing on the safe side of things. essentially, the government doesn't have enough political capital. there's much, much needed. there's one of the flaws that the markets are looking at right now. besides that, the budget is attracting the shore. some kind of consolidation from the 5.9%, which is a big disappointment. they're trying to look at 5.1%. but the big flaw is high-end corporate tax revenues, looking at lower subsidies. and i think these are all -- and, you know, pretty strong divestment goal, as well. so these are, you know, potential pitfalls, especially at a time when oil prices are very high. >> oil prices is high is one thing. the issue of structure reforms is a key thing a lot of international markets are looking. we know what happened to the regional sectors. is there anything in this particular budget that would encourage foreign investors? >> well, the consolation seem th
joining us now, we have vishnu. he is a market economist. good to have you with us. in summary, what's your outlook on the indian budget? >> i think the indian budget was probably playing on the safe side of things. essentially, the government doesn't have enough political capital. there's much, much needed. there's one of the flaws that the markets are looking at right now. besides that, the budget is attracting the shore. some kind of consolidation from the 5.9%, which is a big...
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Sep 18, 2012
09/12
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joining us for more is equity analyst at cinb. david, thanks for joining us. first of all, how significant is this move snd wheand where is t opportunity? >> will is long term positive for equity trading. but the near term, i don't see much impact. of course if you look at it, as see a as see ann asean exchanges is about 40% compared to not asian exchanges, 121%. u.s., europe, euro, looking at about 80%. so still a lot of scope for improvement in liquidity trading. so longer term are it's a positive, but a lot of wrork has to be done, creating awareness among investors. and also a lot of standardization of trading and regulations involved. >> even if all that plays out, investors who are eager to get access to these markets, you say for them to take a look for example at the offshore marie sector, to look perhaps to indonesia and thailand, whether it's plan takings or petrol chemicals these sectors who may be underperforming but have good fundamentals. >> it is right. ultimately right now we don't think that this asean trading link will have any impact on valu
joining us for more is equity analyst at cinb. david, thanks for joining us. first of all, how significant is this move snd wheand where is t opportunity? >> will is long term positive for equity trading. but the near term, i don't see much impact. of course if you look at it, as see a as see ann asean exchanges is about 40% compared to not asian exchanges, 121%. u.s., europe, euro, looking at about 80%. so still a lot of scope for improvement in liquidity trading. so longer term are it's...
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May 9, 2012
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rasmussen, thanks for joining us. talk to us about russia. is this going to be an ongoing problem. >> the underlying dynamics in russia is quite positive. the macroeconomy quite positive. what you see coming through in our numbers would be the destocking after we had the tax increase in january. if you look at our asian region, very strong performance and russia primarily being impacted by restocking. we invest quite a bit in the marketing in the first half because we have the big event, the world champion football championship coming up in poland and ukraine. >> how will that feed in? >> can you -- what do you mean by that? >> what is that going to do for the bottom line, that tournament? >> it's -- i cannot put a number on it. it's definitely very positive, and it's not only short term in terms of volume list but it's what it does to the brand. it's a very positive thing because you have so many people and spectator viewing those matches being played during that tournament. so it's not only short term but long term building brand equity. bu
rasmussen, thanks for joining us. talk to us about russia. is this going to be an ongoing problem. >> the underlying dynamics in russia is quite positive. the macroeconomy quite positive. what you see coming through in our numbers would be the destocking after we had the tax increase in january. if you look at our asian region, very strong performance and russia primarily being impacted by restocking. we invest quite a bit in the marketing in the first half because we have the big event,...
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Jun 22, 2012
06/12
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thank you very much for coming to see us. john chambers from cisco. >> appreciate you being on the ground in st. petersburg and hearing his thoughts, john chambers about the weakness he's seeing in india and relative strength of russia still. >> two prong story to some extent although the weakness across the board with the financial data. just to mention within the past couple of minutes we've had flash out by reuters that the slovak parliament is ratifying the eurozone, the esm have to go through verification of various countries. >> the big one, the focus deals with germany. still to cobble this show, moody's closes the books on its reviews of several big banks cutting ratings on 15 companies. with the move the industry has made to short finances will these downgrades be a lagging indicator. got to talk bank analyst and former head of the bank bb and t next. don't go away. > with the spark cash card from capital one, sven's home security gets the most rewards of any small business credit card! how does this thing work? oh,
thank you very much for coming to see us. john chambers from cisco. >> appreciate you being on the ground in st. petersburg and hearing his thoughts, john chambers about the weakness he's seeing in india and relative strength of russia still. >> two prong story to some extent although the weakness across the board with the financial data. just to mention within the past couple of minutes we've had flash out by reuters that the slovak parliament is ratifying the eurozone, the esm...
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Dec 13, 2012
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joining us now is david scoutville. david, first of all, how do you know the 1 billionth tourist is out there today and where might he or she arrive? >> it's impossible to tell where that personal is going to arrive. but we've calculated very precisely today is the day that ta 1 billionth tourist is going to cross an international border. as you said in your introduction, there's auto huge increase since travel started. only four years ago, that figure was 445 million. so that figure is growing quickly. >> one of the questions, though, become what are the tourism hot spots? are we seeing a shift to where people are going, how they're traveling? what is the outlook for 2013, in your view? >> 2012 will finish at a growth about 2.12%. as we go into 2013, it will be about the same sort of growth rate. most of the growth is coming in asia. europe is still by far the biggest inbound and outbound market. most of the future growth is coming out of china. it is a market which is exploding. i think in 2010, they had 58 million pe
joining us now is david scoutville. david, first of all, how do you know the 1 billionth tourist is out there today and where might he or she arrive? >> it's impossible to tell where that personal is going to arrive. but we've calculated very precisely today is the day that ta 1 billionth tourist is going to cross an international border. as you said in your introduction, there's auto huge increase since travel started. only four years ago, that figure was 445 million. so that figure is...
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Mar 12, 2012
03/12
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silvia wadhwa joins us now. silvia? >> reporter: beccy, among other things, one of the first things is how disappointed are you that this -- the restructuring, the psi was ultimately called a credit event? he said not at all but here in his own words. >> the so-called credit event is legal event is. not something -- and also legal within the frame of the private platform because, as you know very well, the international association, the isda, is the association for banks and other entities of the market and the credit event and the triggering of cds is something internal. this is a kind of dealing between banks and financial entities. it's not something important for us as real economy and international economy. of course this is nothing for the size of the eurozone. >> reporter: now the ink on the second bailout package for greece isn't quite dry. when the doomsday profits are saying, yeah, but we needed a third bailout package for greece. >> we have a very clear political declaration from our partners. we have a very
silvia wadhwa joins us now. silvia? >> reporter: beccy, among other things, one of the first things is how disappointed are you that this -- the restructuring, the psi was ultimately called a credit event? he said not at all but here in his own words. >> the so-called credit event is legal event is. not something -- and also legal within the frame of the private platform because, as you know very well, the international association, the isda, is the association for banks and other...
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Mar 30, 2012
03/12
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if so, call us now. you'll learn how the sleep number bed helps relieve back pain by allowing you to adjust the firmness and support to conform to your body for a more proper spinal alignment. just look at this research... 93% of participants experienced back-pain relief. plus it's a great value because it costs about the same an innerspring yet lasts twice as long. so if you want to sleep better or find relief for your bad back, call now. call the number on your screen for your free information kit with dvd brochure and price list. call now and we'll include a free $50 savings card. call now for your free information and this free $50 savings card. call now! >>> headlines from around the globe, research in motion is feeling a bit bruised today. the blackberry maker reports fourth quarter loss and is launching a review that could include the sale of the company. >>> and spanish finance minister says his budget will convince brussels of the market after street protests turn violent. >>
if so, call us now. you'll learn how the sleep number bed helps relieve back pain by allowing you to adjust the firmness and support to conform to your body for a more proper spinal alignment. just look at this research... 93% of participants experienced back-pain relief. plus it's a great value because it costs about the same an innerspring yet lasts twice as long. so if you want to sleep better or find relief for your bad back, call now. call the number on your screen for your free...
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Jun 21, 2012
06/12
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sharing your views with us. steven jennings. we'll talk to the iaea in just a moment how well supplied the energy market is. let me send it back to you for the time being. >> jeff, thank you very much. very interesting stuff. >> i want to bring this to your attention. italy's prime minister is out talking about how the tax system is undermining italy's competitiveness and how potentially it needs reform. he says international accords are needed to fight tax evasion. it needs a more accessible tax system and tax evasion is a huge wound to italy's credibility. >> not just greece. spain has seen its borrowing costs rise at auction of medium term debt. the spanish government is prepared to release the results of a banking spector audit. the spanish banks very much in focus. we've seen the ten year coming off, those quite substantially in terms of the yield. we were at 7.1% a couple of days ago. stefan joins us out of madrid. to recap us, what exactly is taking place today out of spain? >> reporter: we just had the b
sharing your views with us. steven jennings. we'll talk to the iaea in just a moment how well supplied the energy market is. let me send it back to you for the time being. >> jeff, thank you very much. very interesting stuff. >> i want to bring this to your attention. italy's prime minister is out talking about how the tax system is undermining italy's competitiveness and how potentially it needs reform. he says international accords are needed to fight tax evasion. it needs a more...
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Mar 29, 2012
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joining us is frederick hawk. thanks for joining us. you think right now the gas leak is out of control. if i have yours reasons for that. >> a leak that comes up under a flat form is out of control, but there is one good case scenario, one bad case scenario and one worst case scenario and we have to look at the information that we get over time to look at what kand kind of consequences that accident could have. >> what's the worst case scenario and what's your best case? >> to start with the best case, we've just got in some information that support that we have the leakage through the in-are and outer casing. if will this is leaking from the reservoir -- it could indicate that this is a pocket gas above the reservoir that is leaking carried up lieu. >> frederick, hi, is this christine. should we be comparing this incident to the deepwater horizon and what's the environmental impact here? >> will is similarities when it comes to -- i would describe them as the rail from hell when it comes to drilling. this is a kind of extreme sport th
joining us is frederick hawk. thanks for joining us. you think right now the gas leak is out of control. if i have yours reasons for that. >> a leak that comes up under a flat form is out of control, but there is one good case scenario, one bad case scenario and one worst case scenario and we have to look at the information that we get over time to look at what kand kind of consequences that accident could have. >> what's the worst case scenario and what's your best case? >>...
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Feb 3, 2012
02/12
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burns is still with us. todd, let's start with the employment number today, looking for an increase in 125,000 jobs, 8.5% rate to stay unchanged. do you agree with those figures? anything you are looking for today that may change your view? >> first of all, good morning, jackie. thank you for having me. i think the numbers will be better than expected. we're pricing in a better number. so i think the numbers are going to be actually better. the unemployment rate itself, the headline number i think is really meaningless on its own because it's a number that you look at it in truth it's 15% or 16%. the increase in jobs, i look for a bigger increase, for a more bullish number. the market is reacting well looking for better numbers. i think we will get one today. >> you are absolutely right in terms of that 8.5% rate. the traders certainly do look at that number. but i also want to get your take on other data we're expecting today. ism services and factory orders as well. anything to watch for there? >> i think
burns is still with us. todd, let's start with the employment number today, looking for an increase in 125,000 jobs, 8.5% rate to stay unchanged. do you agree with those figures? anything you are looking for today that may change your view? >> first of all, good morning, jackie. thank you for having me. i think the numbers will be better than expected. we're pricing in a better number. so i think the numbers are going to be actually better. the unemployment rate itself, the headline...
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Jan 31, 2012
01/12
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david owen is still with us. i want to talk portugal, your reaction to the uk if we may, and that collapse this fallen consumer credit. >> i mean, certainly it underpins the fact we need additional qe coming in february. you are still seeing the lag effects and though the economy barely contracted in the fourth quarter and might be marginally better, we're still not growing and there's still not a lot of credit flowing around the system. >> david, one wonders whether the ecb should reverse positions and whether the ecb should have quantitative easing. >> well, that's an interesting point and perhaps also could be buying the paper as well but the point here is that contraction at a fast rate. obviously one of the reasons the quantitative easing was to ensure the balance sheet didn't contract too much so i think this will be of concern to them. i have to say going around meeting investors most people do expect there to be additional qe announced next thursday so the risk they wouldn't do it but on the back of these
david owen is still with us. i want to talk portugal, your reaction to the uk if we may, and that collapse this fallen consumer credit. >> i mean, certainly it underpins the fact we need additional qe coming in february. you are still seeing the lag effects and though the economy barely contracted in the fourth quarter and might be marginally better, we're still not growing and there's still not a lot of credit flowing around the system. >> david, one wonders whether the ecb should...
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Jul 23, 2012
07/12
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will is still with us. will, give us your view of the japanese economy. over a year now from the nuclear disaster and the floods. where are we? >> i think if you look at the outlook for japan, it's a long term structural difficulty that they got. don't forget as well while they are making this transition away from nuclear power that has meant you got limits on the electricity usage in the household sector. still an economy struggling to find its role in the global economy looking ahead. look at the competition, we were talking earlier to the competition of philips and lg and samsung. why are we not talking about the big japanese companies. they have not figured how they will play a major role in the global economy, where will they invest and grow. you got great companies sitting on large amounts of cash they are not coming to grips how this can become a major driver. >> okay. stick around. more to come from you. >> let's get a look on what's on the agenda in asia. hsbc releases its preliminary reading on china pmi data. that kicks off a full day of flash
will is still with us. will, give us your view of the japanese economy. over a year now from the nuclear disaster and the floods. where are we? >> i think if you look at the outlook for japan, it's a long term structural difficulty that they got. don't forget as well while they are making this transition away from nuclear power that has meant you got limits on the electricity usage in the household sector. still an economy struggling to find its role in the global economy looking ahead....
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Apr 5, 2012
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joining us is keith flurry. keith, thanks so much for joining us. what's weighing on the cocoa market? >> there are a couple of really bearish impacts. one of them of course is the supply. in the 2010/11 season, we realized a 400,000 ton surplus, largest surplus ever. and in 11/12, we might also realize a small surplus. all of that supply means that the stocks and inventories are growing and that's weighing on the prices. >> what's happening on the demand side? >> demand remains pretty good. demand for cocoa butter which is used for chocolate is modest because that demand is generally focused in europe and united states. but cocoa powder demand which is used for cereals, ice cream and other cocoa-based products is very strong and a lot of that demand is asia and emerging markets. we expect that demand to increase. >> it's true, we all love chocolate here in asia. but has the uncertainties in the eurozone and u.s. crimped demand for chocolate? >> it hasn't as of yet. we saw in 2008 that cocoa demand was extremely reduced due to the crisis. they reduc
joining us is keith flurry. keith, thanks so much for joining us. what's weighing on the cocoa market? >> there are a couple of really bearish impacts. one of them of course is the supply. in the 2010/11 season, we realized a 400,000 ton surplus, largest surplus ever. and in 11/12, we might also realize a small surplus. all of that supply means that the stocks and inventories are growing and that's weighing on the prices. >> what's happening on the demand side? >> demand...
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Mar 13, 2012
03/12
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thanks for spending the hour with us. so spain is now in the spotlight as carolin was just describing. i know you are very underweight peripheral sovereigns. are you concerned about spain in particular? >> a marvelous bit of anchoring going on here. they came out with 5.8. the eu says, no, 5.3 but that's the original target. they slipped last year. they will this year. as the correspondent was pointing out 25% unemployment and, frankly, i think they're trying to tighten this much when you are already in a recession is madness. the quid pro quo event is unless they have this compact, unless it has teeth, then the ecb is not going to be out there buying the bonds. so clearly spain is a big risk. interest our point of view, moreover, what the greek solution effectively did was suborder nate bondholders. it makes it even less enthusiastic about the peripheral debt but paradox probably more. no longer comparing with the risk free rate. suborder nat subo subordinated rate. >> you are buying equities? >> we've been long europe.
thanks for spending the hour with us. so spain is now in the spotlight as carolin was just describing. i know you are very underweight peripheral sovereigns. are you concerned about spain in particular? >> a marvelous bit of anchoring going on here. they came out with 5.8. the eu says, no, 5.3 but that's the original target. they slipped last year. they will this year. as the correspondent was pointing out 25% unemployment and, frankly, i think they're trying to tighten this much when you...
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Sep 27, 2012
09/12
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the new ceo is with us. thanks very much for being with us. you launched this little beast, which is the gt 3 and announcing bentley is going back into racing. >> yeah, as understand, we will return to racetrack. and the reason why is that our customers thinks that belongs together. bentley on the one hand, on the other side racing belongs together. so we responded. and our first sponsor the response of our customers was very positive. >> let me ask you about the return on investment. you're putting a lot of money in there, but what does it mean in terms of getting money out? >> it is not that easy to earn money with racing, but on the other hand, we think there is a chance because many, many private customers are interested in racing on racetracks. and after we've done our homework, we have car ready for the first races, we will see if we reach or not, but we're optimistic. >> otherwise you wouldn't have done it. in terms of the luxury sector in general, it is very resilient, but this economic cycle that is in a downturn for quite some time,
the new ceo is with us. thanks very much for being with us. you launched this little beast, which is the gt 3 and announcing bentley is going back into racing. >> yeah, as understand, we will return to racetrack. and the reason why is that our customers thinks that belongs together. bentley on the one hand, on the other side racing belongs together. so we responded. and our first sponsor the response of our customers was very positive. >> let me ask you about the return on...
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Nov 22, 2012
11/12
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joining us, chief european economist. ricar ricardo, thanks for joining us. so still a negative territory. what does this point to in terms of the economic decline for the fourth quarter? >> i think it's in line with the idea that real sgchlt dp will decline by at least 0.2%, possibly 0.3%. it will give us a negative entry point in 2013 when i expect an average growth of minus 0.2%. so still moderately recession territory. >> the german flash composite pmi 47.9, services 48, manufacturing 46.8, is germany -- we just saw the 0.2% print. is girl aermany going to have a negative contract? >> i'm looking for a contraction of minus 0.2. so only aed modest one. i expect activity will stabilize in q1 of next year, but obviously that requires a favorable external environment, meaning u.s. not going into this deep due to the fiscal cliff. and also signs of improvement in asia. >> meanwhile the french pmi says the survey there suggests a 0.7% gdp drop in quarter 4 for france. >> that seems quite large. we've seen in recent quarters numbers out of front which were highe
joining us, chief european economist. ricar ricardo, thanks for joining us. so still a negative territory. what does this point to in terms of the economic decline for the fourth quarter? >> i think it's in line with the idea that real sgchlt dp will decline by at least 0.2%, possibly 0.3%. it will give us a negative entry point in 2013 when i expect an average growth of minus 0.2%. so still moderately recession territory. >> the german flash composite pmi 47.9, services 48,...
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Nov 9, 2012
11/12
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joining us is stefan. thanks for joining us. how much can we discount hurricane sandy and how much might it be of benefit in terms of helping to harden rates? >> well, as far as it looks now, it's not really an event basically having a big influence on rates. we did have a lot of capital in the reinsurance industry and in that regard, plenty of capacity. so estimated 17 to 20 billion for insurance losses whether not really be enough to have a real impact on pricing. but i think psychologically, it will help to shape rates going forward and especially also next year into july with renewals in the u.s. and worldwide having a small positive impact. but generally the average reinsurance rate environment will not change based on sandy loss only. >> what's your take on the insurers generally speaking, do you like them as group, what are issues they need to face to see share outperformance? >> it will some quite some time to get some decent estimates. there's uncertainties in many regards and clearly estimates my tend upwards from the
joining us is stefan. thanks for joining us. how much can we discount hurricane sandy and how much might it be of benefit in terms of helping to harden rates? >> well, as far as it looks now, it's not really an event basically having a big influence on rates. we did have a lot of capital in the reinsurance industry and in that regard, plenty of capacity. so estimated 17 to 20 billion for insurance losses whether not really be enough to have a real impact on pricing. but i think...
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Apr 3, 2012
04/12
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you can tweet us or even e-mail us. this is a couple things that he's proved as he said. >> if obama gets reelected, he will try to make sure that the higher tax rates go in for capital earners and small businesses. and we also have taxes coming in on capital under obamacare, about 4%. so if nothing is done, dividends go from 15% to 45%, capital gains from 15% to 24%. now, congress will be in a mood to do something, but the president is not going to let those tax cuts of ten years ago remain for upper income earners. >>> no margin for error. spain's finance minister says his government faces a lose/lose situation takes presents the most usaustere budget on recordo parliament. >> and cba signals a readiness to ease when it meets in may. >> and in the u.s., should there be more easing or not? today's fed minutes may renew the debate over whether the central bank is thinking about launching anymore quantitative easing. construction pmi 56.7 in march, pfs 54.3 in february. and again, another number following yesterday's man
you can tweet us or even e-mail us. this is a couple things that he's proved as he said. >> if obama gets reelected, he will try to make sure that the higher tax rates go in for capital earners and small businesses. and we also have taxes coming in on capital under obamacare, about 4%. so if nothing is done, dividends go from 15% to 45%, capital gains from 15% to 24%. now, congress will be in a mood to do something, but the president is not going to let those tax cuts of ten years ago...
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Apr 30, 2012
04/12
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joining us from geneva is raymond torez. raymond, thanks for joining us. fairly stark forecast of unemployment. your rue here as we see in spain, nearly one in pour of the working population don't have a job. your view is that austerity is entirely the wrong policy, is it? >> obviously public deficits have to be reduced. in some countries they reached 10% of gdp. this is not sustainable obviously. however, there are two issue has have to be kept in mind. first of all, aggressive reductions in the public deficit are you willy counterproductive. they of course affect the economy, but in addition, they don't lead to significant reduction to public deficit itself. in addition to that, it's important to add to any strategy to reducing public deficit in a reasonable manner, it's important to have the growth strategy which is totally missing. >> there's always a j curve effect when you implement austerity. those who argue it's the right thing to do say growth will poll cutting budgets and with growth you will get employment. it's just there's a lag. >> this is th
joining us from geneva is raymond torez. raymond, thanks for joining us. fairly stark forecast of unemployment. your rue here as we see in spain, nearly one in pour of the working population don't have a job. your view is that austerity is entirely the wrong policy, is it? >> obviously public deficits have to be reduced. in some countries they reached 10% of gdp. this is not sustainable obviously. however, there are two issue has have to be kept in mind. first of all, aggressive...
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Sep 10, 2012
09/12
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steven stays with us. p. >> and we'll have more from the forum including italy's economy minister. >> and ross is out still then it's on to zurich where we find on if the last ditch effort to save the glencore deal will be enough for shareholders. >> and then a stop in japan. plus we will head to houston for a discussion of the sale of $18 billion worth of aig shares. a move that would make the u.s. government a minority shareholder. >> the world's second largest economy is slowing according to data released over the weekend. china's trade surface widened after an unexpected drop in imports. on sunday industrial production figures showed the country's factory production expanded at its slowist race since may 2009. soybeans and copper also slipped from a month earlier. the man widely expected to become china's next president is pushing for greater political economic reform. local reports say he met and is partially open to relaxation of political controls. chief china economist joins us now for a bit more o
steven stays with us. p. >> and we'll have more from the forum including italy's economy minister. >> and ross is out still then it's on to zurich where we find on if the last ditch effort to save the glencore deal will be enough for shareholders. >> and then a stop in japan. plus we will head to houston for a discussion of the sale of $18 billion worth of aig shares. a move that would make the u.s. government a minority shareholder. >> the world's second largest economy...